QatarEnergy halts LNG production after Iran drone attacks
A liquefied pure gasoline (LNG) tanker on a digital display on the Qatar Economic Forum (QEF) in Doha, Qatar, on Tuesday, May 20, 2025.
Christopher Pike | Bloomberg | Getty Images
Qatar stated Monday it halted liquefied pure gasoline production attributable to attacks by Iran on two key working amenities, because the Islamic Republic widened retaliatory strikes to focus on regional power infrastructure of its Persian Gulf neighbors.
Qatar is among the world’s largest suppliers of LNG. About 20% of world LNG exports come from the Gulf, primarily Qatar, and are shipped by way of the Strait of Hormuz, in line with power consulting agency Kpler.
Qatar’s Defense Ministry said He stated earlier that two drones launched from Iran had struck amenities within the nation, though there have been no coincidences. QatarEnergy, a state-owned power firm, stated the assault hit its amenities at Ras Laffan Industrial City and Mesaieed Industrial City.
European pure gasoline futures soared after the shutdown. UK pure gasoline spiked about 50%, whereas Dutch futures jumped greater than 45%. Shares of US LNG exporters Cheniere Energy and Global Venture jumped practically 7% and greater than 16%, respectively, in early buying and selling Monday.
Iran launched missiles at US allies throughout the Gulf over the weekend in retaliation for large strikes by the US and Israel that killed the Islamic Republic’s Supreme Leader Ayatollah Ali Khamenei. Saudi Aramco’s Ras Tanura refinery was attacked by a drone, an business supply informed CNBC. The refinery has been closed as a precautionary measure, the supply stated.
LNG is a kind of pure gasoline that’s tremendous cooled at minus 260 levels Fahrenheit right into a liquid state and loaded on tankers for transport world wide. Natural gasoline is used primarily for electrical energy production.
—CNBC’s Emma Graham contributed to this report.
